transnet strike prevents millionaires daily income from mineral exports

South Africa: Transnet strike prevents millionaires daily income from mineral exports

South African miners are reportedly losing 815 million rand ($44 million) a day in export earnings due to the ongoing strike by workers at the state-owned logistics company Transnet, which has affected the movement of raw materials abroad.

Transnet port and rail freight workers earlier said they had rejected a revised pay offer and vowed to continue the strike that began a week ago.

Meanwhile, the South African Minerals Council said major mineral export ports were currently operating at 12-30% of their daily averages due to the stoppage.

In this way, on average, South Africa exports some 476,000 tons of bulk minerals per day worth 1,060 million rand (USD 57,944,895), but currently it can only ship 120,000 tons of minerals per day, based on what was communicated. by industry group.

“According to our estimates, bulk ore exporters are losing R815 million in exports per day because they are unable to transport and load 357,000 tonnes of iron ore, coal, chrome, ferrochrome and manganese onto ships daily,” the Board of Directors said. Minerals.

Likewise, from the Government of the Western Cape they expressed their concern about the extension of the strike, since they point out that it would be a “major setback for the economic recovery” of the province.